Labor, health, and education programs were cut by $5.5 billion; Defense got a raise.Government Executive
Washington —House Speaker Kevin McCarthy on Saturdayreached a last-minute compromiseto keep the federal government running and avoid a costly shutdown. A 45-day stopgap spending bill with wide bipartisan support in both chambers passed both the House and Senate with hours to spare, and went to...
The 2,702-page bill passed following a record-breaking,8 1/2-hour filibuster speechby Minority LeaderKevin McCarthy, (R-Bakersfield). He said, “it’s the most irresponsible spending bill in the history of America.” According to theSummary of Cost Estimateby the Congressional Budget Office ...
Moreover, while wage bill spending is pro-cyclical during both good and bad times, adjustments during economic downturns tend to be sharper than expansions during periods of economic booms. In addition, there is evidence of political cycles, with stronger wage bill growth in pre-election periods....
(SALT) cap, which limits the amount of state and local taxes that individuals can deduct from their federal taxes, would be raised by the social spending bill being considered by the House. The cap, which largely affects wealthier Americans in coastal Democratic-dominant states, would rise from...
After teasing a potential veto of the colossal $1.3 trillion omnibus, President Donald Trump signed the spending bill into law Friday, touting it as a "matter of national security." "We had no choice but to fund our military because we have to have by far the strongest military in the...
As the elderly man paid the bill the next morning, he told the clerk, “You are the kind of person who should be the boss of the best hotel in the United States. Maybe someday I’Il build one for you.” The clerk looked at them and smiled. The three of them had a good laugh....
Europe subsequently froze that $400+ billion in Russian fiat assets in response to Russia’s invasion of Ukraine, which is equivalent to over 20% of Russian GDP and over five years of Russian military spending; an utterly massive economic confiscation. Russia is currently in a financial crisis,...
If you're looking for ways to save on your grocery bill, try shopping at a discount grocery chain. Jessica WalrackApril 25, 2025 How Much to Save in an Emergency Fund Three to six months of expenses is a good rule of thumb but your goal will vary based on your financial situation. ...
President Biden and Democrats have been pushing for a bill that raises or suspends the debt limit with no conditions. But Republicans have been set on pairing spending cuts with a debt-ceiling hike, setting the two sides on a collision course. ...